According to the CME Group's FedWatch Tool, which measures the market's expectations of Fed target rates on a daily basis, there is a 74.7 percent chance of the Fed raising rates by 0.25 percent this week. On the other hand, the FedWatch data found that there is a 25.3 percent chance of the Fed raising rates by 0.50 percent.

The market capacity for existing-home sales increased by 0.3 percent month-over-month and 12.5 percent year-over-year in May, while rising interest rates and a slight jump in unemployment countered equity-enhancing home price appreciation, according to First American.

Title insurance premium volume rose 14 percent during the third quarter of 2013 when compared to the same period a year ago, according to the American Land Title Association (ALTA). Based on the national trade group's market share analysis for Q3, the title insurance industry generated $3.4 billion in premiums over the July-to-September period, compared to $3.0 billion in the third quarter of 2012.

LOGS Network announced Wednesday that it has made a strategic addition to its leadership team with the addition of Scott Brinkley as the organization's new CEO. Before joining LOGS, Brinkley held executive positions for two decades with First American and CoreLogic. He also co-founded a large claims processing business and most recently was CEO of the Illinois foreclosure law firm Pierce and Associates.

The National Association of Home Builders' Improving Markets Index--a list of areas showing sustained improvement in employment, home prices, and housing permits--reached a record high of 291 in September, according to release. ""While there is still plenty of room for growth, this is an excellent indication of how the housing recovery has begun to take hold across more geographical areas,"" ""said Rick Judson, chairman of the NAHB and a home builder from Charlotte, North Carolina.

After falling in April and May, the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) resumed its upward trend in June, NAHB reported. According to the association, the number of U.S. housing markets showing sustained growth in housing permits, home prices, and employment rose to 263 in June, five more than May's total. The index grew for several months to a record high of 274 in March before falling to 273 in April and then 258 in May.

After climbing for seven straight months, the improving markets index (IMI) from the National Association of Home Builders (NAHB) and First American fell by one market from the prior month. The index identified 273 markets as improving this month, down from 274 in March. Although the index welcomed five new markets in April, six dropped off the list. ""In some markets, the main thing that's holding back a recovery is a relatively thin inventory of homes for sale, which could be resolved if builders had easier access to credit for building homes and putting people back to work,"" said Rick Judson, NAHB chairman.